Poundland reveals 25 stores are set to close

Poundland has revealed on Monday that 25 stores will close for the last time in August in yet another blow to the UK’s troubled high street.

On 10 August Poundland will close 10 stores and on 17 August a further 15 will shutter for the very last time as part of a restructuring plan which was launched when the budget retail was sold for £1 to investment firm Gordon Brothers.

There is a further 150 store at risk of closing out of the total 700 stores.

Retail director Darren MacDonald said, “It is, of course, sincerely regrettable that our recovery plans include any store closures, but sadly that’s necessary if we’re to achieve our goal of securing the future of thousands of jobs and hundreds of stores.

While our anticipated network of around 650-700 stores remains a sizeable one, we entirely understand how disappointing it will be for customers when one nearby, closes. Nevertheless, we look forward to continuing to welcome them to a nearby Poundland.

It goes without saying that we will work closely with colleagues through a formal consultation process in stores scheduled to close, exploring any suitable alternative roles. That work is underway.”